The scheme seeks to provide insurance for bank deposits and guarantees credit given by banks and financial institutions. It aims to provide depositors time-bound access to their insured deposit amount, in case they are restricted from accessing their bank deposits.source https://economictimes.indiatimes.com/industry/banking/finance/deposit-insurance-scheme-1-lakh-plus-depositors-get-over-1300-crore-payout/articleshow/88232659.cms
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